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Sunrise Resources - Director Dealing, Issue of Equity, TVR

RNS Number : 7654X

Sunrise Resources Plc

01 May 2019

1 May 2019

SUNRISE RESOURCES PLC

(the "Company")

Director Dealing, Issue of Equity, Total Voting Rights

Sunrise Resources plc, the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, announces that pursuant to terms agreed on 20 August 2008, the directors of the Company will be receiving settlement of a portion of their outstanding fees in Ordinary Shares of 0.1 pence each in the Company ("Ordinary Shares"), calculated with reference to the closing mid-market price on the trading day prior to the issue of the Ordinary Shares. This enables the Company to preserve cash for its project activities.

On Tuesday 30 April 2019, the Board resolved to issue a total of 13,532,610new Ordinary Shares to the directors, in lieu of net fees, for the six-month period ended 31 March 2019. The Ordinary Shares were issued at a price of 0.105 pence per share, being the closing mid-market price on AIM on Monday 29 April 2019.

The following table shows the number of new Ordinary Shares issued to the directors and their total holdings following the issue of the Ordinary Shares:

Director

Number of Ordinary Shares issued

Total interest in Ordinary Shares following Admission

% of Company's issued share capital following Admission

Patrick Cheetham*

3,703,314

94,093,683

3.42

David Swan

3,934,171

23,257,509

0.85

Roger Murphy

5,895,124

38,702,101

1.41

* includes 5,500,000 shares held by K E Cheetham, wife of P Cheetham.

Application will be made to the London Stock Exchange for 13,532,610 Ordinary Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission"), and it is expected that Admission will occur on or around Wednesday 8 May 2019.

Total Voting Rights

In accordance with Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following the issue and Admission, the total issued share capital of the Company with voting rights will be 2,749,760,308 Ordinary Shares.

The above figure of 2,749,760,308 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the DTRs.

Further information:

Sunrise Resources plc

Patrick Cheetham, Executive Chairman

Tel:

+44 (0)1625 838 884

Beaumont Cornish Limited

Nominated Adviser

James Biddle/Roland Cornish

Tel:

+44 (0)207 628 3396

SVS Securities Plc

Joint Broker

Tom Curran/Ben Tadd

Tel:

+44 (0)203 700 0093

Market Abuse Regulation

The information set out below is provided in accordance with the requirements of Article 19(3) of Regulation (EU) No.596/2014 of the European Parliament and of the Council.

Issue of new Ordinary Shares in settlement of a portion of their outstanding fees

c)

Price(s)andvolume(s)

Price(s)

Volume(s)

0.105 pence

5,895,124

d)

Aggregated information

- Aggregated volume

- Price

N/A (Single transaction)

e)

Date of the transaction

30/04/2019

09:45 UTC

f)

Place of the transaction

Outside a trading venue (XOFF)

About Sunrise Resources plc

The Company's objective is to develop profitable mining operations at the CS Pozzolan-Perlite Project in Nevada, USA and unlock the value inherent in our diverse portfolio of industrial minerals, precious metals and base metal projects.

Shares in the Company trade on AIM under the symbol "SRES" and also on the NEX Exchange (Secondary Market).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

END

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Quick facts: Sunrise Resources PLC

Price:
0.13

Market: AIM

Market Cap: £4.31 m

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